city administrative officer of los angelescao.lacity.org/homeless/prophhhcoc-20200409c.pdf · 2020....

No. PEP FY Q4 (April-June 2020) FY Q1 (July-Sept 2020) FY Q2 (Oct-Dec 2020) FY Q3 (Jan-March 2021) FY Q4 (April-June 2021) TOTAL

1

Attachment A2: PEP 2 (2018-2019)(Amendment Increase) -$ -$ 540,000$ -$ 960,000$ 1,500,000$

2Attachment A3:PEP 3 (2019-2020) 1,675,000$ 29,913,577$ 14,956,465$ 19,102,133$ 19,475,559$ 85,122,732$

3

Attachment A4:Proposed HHH Projects FY 2020-2021(Includes Funding Authorizationfor Cadence) 6,000,000$ 5,400,000$ 6,776,218$ 9,749,331$ 10,624,331$ 38,549,880$

4

Attachment A4:Proposed Proposition HHH Housing Innovation Challenge Projects FY 2020-2021 -$ -$ -$ -$ -$ -$

TOTAL: 7,675,000$ 35,313,577$ 22,272,683$ 28,851,463$ 31,059,889$ 125,172,612$

Attachment A1.Project Expenditure Plan Funding Recommendations

No. Project Name 4% or 9% Original PEP

HHH LoanActual HHH

Outstanding Balance as of 2/29/2020

FY 2019-2020 Q4 (Apr-June)

Projected Beginning Balance

(July 1, 2020)FY Q1 (July-Sept) FY Q2 (Oct-Dec) FY Q3 (Jan-March) FY Q4 (April-June) GO Bonds Required

(FY 19-20 Q4 & FY 20-21)Ending Balance

1 Depot at Hyde Park - Funding Increase Amendment9%

$960,000 $0 $0 $960,000 $0 $0 $0 $960,000 $960,000 $0

2PATH Villas Hollywood - Funding Increase Amendment

4%

$540,000 $0 $0 $540,000 $0 $540,000 $0 $0 $540,000 $0TOTAL $1,500,000 $0 $0 $1,500,000 $0 $540,000 $0 $960,000 $1,500,000 $0

Attachment A2: PEP 2 (2018-2019)

(Amendment Increase)

No. Project Name 4% or 9% Original PEP HHH Loan Actual HHH Outstanding Balance as of 2/29/2020

FY 2019-2020 Q4 (Apr-June)

Projected Beginning Balance(July 1, 2020)

FY Q1 (July-Sept) FY Q2 (Oct-Dec) FY Q3 (Jan-March) FY Q4 (April-June)GO Bonds Required

(FY 19-20 Q4 & FY 20-21)Ending Balance

1 Watts Works 4% $2,400,000 $2,400,000 $0 $2,400,000 $2,400,000 $0 $0 $0 $2,400,000 $0

2 The Dahlia (fka South Main Street Apartments) 4% $12,000,000 $12,000,000 $1,675,000 $10,325,000 $1,700,000 $2,250,000 $2,250,000 $1,850,000 $9,725,000 $2,275,0003 Mariposa Lily 4% $5,120,000 $5,120,000 $0 $5,120,000 $0 $0 $640,000 $640,000 $1,280,000 $3,840,0004 Berendo Sage 4% $6,620,000 $6,620,000 $0 $6,620,000 $0 $827,500 $827,500 $827,500 $2,482,500 $4,137,5005 Colorado East 4% $8,800,000 $8,800,000 $0 $8,800,000 $1,100,000 $1,100,000 $1,100,000 $1,100,000 $4,400,000 $4,400,000

6Solaris Apartments (fka 1141-1145 Crenshaw Blvd) 4% $9,240,000 $9,240,000 $0 $9,240,000 $0 $0 $0 $1,155,000 $1,155,000 $8,085,000

7 Deepwater 4% $12,100,000 $12,100,000 $0 $12,100,000 $0 $0 $1,512,500 $1,512,500 $3,025,000 $9,075,0008 Main Street Apartments 4% $8,512,000 $8,512,000 $0 $8,512,000 $0 $0 $1,064,000 $1,064,000 $2,128,000 $6,384,0009 Asante Apartments 4% $11,880,000 $11,880,000 $0 $11,880,000 $0 $0 $0 $1,485,000 $1,485,000 $10,395,000

10 Talisa (fka 9502 Van Nuys Blvd) 4% $10,560,000 $10,560,000 $0 $10,560,000 $0 $1,320,000 $1,320,000 $1,320,000 $3,960,000 $6,600,00011 The Pointe on La Brea 4% $8,624,000 $8,624,000 $0 $8,624,000 $0 $0 $0 $1,078,000 $1,078,000 $7,546,00012 Rose Apartments 4% $6,888,468 $6,888,468 $0 $6,888,468 $861,059 $861,059 $861,059 $861,059 $3,444,234 $3,444,23413 HiFi Collective (fka Temple View) 4% $12,760,000 $12,760,000 $0 $12,760,000 $1,047,518 $3,282,906 $2,944,574 $0 $7,274,998 $5,485,00214 Ingraham Villa Apartments 4% $12,000,000 $12,000,000 $0 $12,000,000 $1,500,000 $1,500,000 $1,500,000 $1,500,000 $6,000,000 $6,000,00015 Montecito II Senior Housing 4% $10,140,000 $10,140,000 $0 $10,140,000 $0 $0 $1,267,500 $1,267,500 $2,535,000 $7,605,00016 Serenity (fka 923-937 Kenmore Ave) 4% $13,520,000 $13,520,000 $0 $13,520,000 $0 $1,690,000 $1,690,000 $1,690,000 $5,070,000 $8,450,000

17 Adams Terrace4% PEP 2

$12,000,000 $12,000,000 $0 $12,000,000 $1,500,000 $1,500,000 $1,500,000 $1,500,000 $6,000,000 $6,000,000

18 Marcella Gardens (68th & Main St.)4% PEP 2

$12,000,000 $5,000,000 $0 $5,000,000 $625,000 $625,000 $625,000 $625,000 $2,500,000 $2,500,000

19 Ruth Teague Homes (fka 67th & Main)9%

$7,180,000 $7,180,000 $0 $7,180,000 $7,180,000 $0 $0 $0 $7,180,000 $020 Washington View Apartments 9% $12,000,000 $12,000,000 $0 $12,000,000 $12,000,000 $0 $0 $0 $12,000,000 $0

TOTAL $194,344,468 $187,344,468 $1,675,000 $185,669,468 $29,913,577 $14,956,465 $19,102,133 $19,475,559 $85,122,732 $102,221,736

Attachment A3:PEP 3 (2019-2020)

No. Project Name 4% or 9% HHH LoanActual HHH Outstanding Balance

as of 2/29/2020FY 2019-2020 Q4 (Apr-June)

Projected Beginning Balance

(July 1, 2020) FY Q1 (July-Sept) FY Q2 (Oct-Dec) FY Q3 (Jan-March) FY Q4 (April-June)

GO Bonds Required(FY 19-20 Q4 & FY 20-21)

Ending Balance

1 VA Building 207 4% $8,260,000 $0 $0 $8,260,000 $0 $1,032,500 $1,032,500 $1,032,500 $3,097,500 $5,162,5002 Link at Sylmar (Sylmar II) 4% $10,900,000 $0 $0 $10,900,000 $0 $1,362,500 $1,362,500 $1,362,500 $4,087,500 $6,812,5003 Hope on Broadway 4% $6,720,000 $0 $0 $6,720,000 $0 $840,000 $840,000 $840,000 $2,520,000 $4,200,0004 Sherman Oaks Senior 4% $11,880,000 $0 $0 $11,880,000 $0 $0 $1,485,000 $1,485,000 $2,970,000 $8,910,0005 West Terrace (fka Silver Star II) 4% $6,404,900 $0 $0 $6,404,900 $0 $0 $800,613 $800,613 $1,601,225 $4,803,6756 11010 Santa Monica 4% $7,000,000 $0 $0 $7,000,000 $0 $0 $0 $875,000 $875,000 $6,125,0007 Sun King Apartments 4% $5,500,000 $0 $0 $5,500,000 $0 $0 $687,500 $687,500 $1,375,000 $4,125,0008 Bell Creek Apartments 4% $6,226,546 $0 $0 $6,226,546 $0 $778,318 $778,318 $778,318 $2,334,955 $3,891,5919 Hope on Hyde Park 4% $9,280,000 $0 $0 $9,280,000 $0 $1,160,000 $1,160,000 $1,160,000 $3,480,000 $5,800,000

10 NoHo 5050 4% $3,833,200 $0 $0 $3,833,200 $0 $479,150 $479,150 $479,150 $1,437,450 $2,395,75011 Chesterfield (fka 4719 Normandie) 4% $8,990,000 $0 $0 $8,990,000 $0 $1,123,750 $1,123,750 $1,123,750 $3,371,250 $5,618,75012 Amani Apartments (fka PICO) 4% $5,400,000 $0 $0 $5,400,000 $5,400,000 $0 $0 $0 $5,400,000 $0

13Funding Authorization for Cadence (11408 S. Central) 4% $10,112,000 $0 $6,000,000 $0 $0 $0 $0 $0 $6,000,000 $0HHH SubTOTAL $100,506,646 $0 $6,000,000 $90,394,646 $5,400,000 $6,776,218 $9,749,331 $10,624,331 $38,549,880 $57,844,766

14 62nd Street PSH n/a $2,000,000 $0 $0 $2,000,000 $0 $2,000,00015 South Figuerora PSH n/a $4,000,000 $0 $0 $4,000,000 $0 $4,000,00016 North Westlake PSH n/a $2,000,000 $0 $0 $2,000,000 $0 $2,000,00017 RETHINK 4 PSH n/a $2,000,000 $0 $0 $2,000,000 $0 $2,000,00018 Lagoon PSH n/a $3,400,000 $0 $0 $3,400,000 $0 $3,400,00019 Flyaway PSH n/a $3,400,000 $0 $0 $3,400,000 $0 $3,400,00020 Flyaway PSH n/a $5,400,000 $0 $0 $5,400,000 $0 $5,400,00021 Flyaway PSH n/a $3,400,000 $0 $0 $3,400,000 $0 $3,400,00022 Flyaway PSH n/a $3,900,000 $0 $0 $3,900,000 $0 $3,900,00023 Manzanita Court PSH n/a $2,750,000 $0 $0 $2,750,000 $0 $2,750,00024 Brilliant Corners Adaptive Reuse PSH n/a $4,250,000 $0 $0 $4,250,000 $0 $4,250,00025 New Zones of Opportunity PSH (Family) 4% $11,200,000 $0 $0 $11,200,000 $0 $11,200,00026 New Zones of Opportunity PSH (TAY) 4% $8,500,000 $0 $0 $8,500,000 $0 $8,500,00027 Harvard Gardens PSH 4% $9,693,333 $0 $0 $9,693,333 $0 $9,693,33328 Oatsie's Place 4% $7,733,333 $0 $0 $7,733,333 $0 $7,733,33329 Vanowen PSH 9% $4,900,000 $0 $0 $4,900,000 $0 $4,900,00030 Streamlining Solutions 4% TBD $0 $0 TBD $0 TBD31 Streamlining Solutions 4% TBD $0 $0 TBD $0 TBD32 Streamlining Solutions 4% TBD $0 $0 TBD $0 TBD33 Streamlining Solutions 4% TBD $0 $0 TBD $0 TBD34 Streamlining Solutions 4% TBD $0 $0 TBD $0 TBD35 Streamlining Solutions 4% TBD $0 $0 TBD $0 TBD

HHH Housing Challenge Projects SubTOTAL $78,526,666 $0 $0 $78,526,666 $0 $0 $0 $0 $0 $78,526,666

GRAND TOTAL $6,000,000 $168,921,312 $5,400,000 $6,776,218 $9,749,331 $10,624,331 $38,549,880 $136,371,432

Attachment A4:Proposed HHH Projects FY 2020-2021

Proposition HHH Permanent Supportive Housing Loan Program Projects

Proposition HHH Housing Innovation Challenge Projects

# Project Name Rd Developer Address CDLeverage

SourceTotal Units SH Units

SH Chronic Units

Non-SH

units

Mgr Units

SH UnitsNon-SH

unitsTDC

Publicly owned Land Cost

Land Cost (less publicly-owned land)

TDC Less Land Cost TDC / UnitTotal HHH Loan

CommitmentHHH SH $ Subtotal

HHH Non SH $ Subtotal

SH $/ HHH UnitNon SH $ / HHH Unit

Total HHH Funding Request

HOME Request

HOPWA Request

CDBG Request

TOTAL Request Tax Credit EquityHHH % of TDC

Population

Served

Project Type

Location Type

Permanent Jobs

Supported

Est. Date Applying to

CDLAC

CDLAC Allocation Meeting

Est. Construction Loan Closing

Est. Construction

Start Date

Est. Ready to Occupy Date

1 11010 Santa Monica Land Development/RFP 2018-2019 Round 3

Weingart Center Association; Values Housing II, LLC

11010 W SANTA MONICA BLVD CA 90025

5 4% 51 50 0 0 1 0 0 $23,758,131 $ 4,066,000 $0 $19,692,131 $465,846 $7,000,000 $7,000,000 $0 $137,255 $0 $0 $0 $0 $ 7,000,000 $7,347,518 29% HS. HV New TOD 209 8/21/2020 10/21/2020 4/21/2021 5/21/2021 5/21/2023

2 Amani Apartments (fka PICO) 2018-2019 Round 2Wakeland Housing and Development Corporation

4200 W PICO BLVD CA 90019 10 9% 54 53 27 0 1 0 0 $32,479,768 $ - $3,500,000 $28,979,768 $601,477 $5,400,000 $11,410,000 $0 $211,296 $0 $0 $0 $0 $ 5,400,000 $22,181,568 17% HS, CH New TOD 307 7/1/2020 9/30/2020 3/31/2021 4/30/2021 4/28/2023

3 Bell Creek Apartments 2018-2019 Round 3Western Community Housing, Inc.; Meta Housing Corporation

6940 N OWENSMOUTH AVE CA 91303

3 4% 80 41 21 5 1 0 33 $49,726,211 $ - $4,560,000 $45,166,211 $621,578 $6,226,546 $5,740,000 $486,546 $71,750 $6,082 $0 $0 $0 $ 6,226,546 $17,280,303 13% HF, H, F, CH New TOD 479 1/17/2020 4/14/2020 10/16/2020 11/16/2020 11/18/2022

4 Chesterfield (fka 4719 Normandie) 2018-2019 Round 2Wakeland Housing and Development Corporation

4719 S NORMANDIE AVE CA 90037

8 4% 43 42 21 0 1 0 0 $26,239,440 $ - $1,850,000 $24,389,440 $610,220 $8,990,000 $8,990,000 $0 $209,070 $0 $0 $0 $0 $ 8,990,000 $12,460,940 34% HS, CH New TOD 259 1/17/2020 4/14/2020 10/16/2020 11/16/2020 11/18/2022

5 Hope on Broadway 2018-2019 Round 3Hope Street Development Group, LLC; CHAPA Inc. (or affiliate)

5138 S BROADWAY CA 90037 9 4% 49 48 24 0 1 0 0 $21,837,335 $ - $1,500,000 $20,337,335 $445,660 $6,720,000 $6,720,000 $0 $137,143 $0 $0 $0 $0 $ 6,720,000 $7,663,152 31% H, CH New TOD 216 1/17/2020 4/14/2020 10/16/2020 11/16/2020 11/18/2022

6 Hope on Hyde Park 2018-2019 Round 3Hope Street Development Group, LLC; CHAPA Inc. (or affiliate)

6501 S CRENSHAW BLVD CA 90043

8 4% 98 67 49 0 1 30 0 $40,057,844 $ - $3,500,000 $36,557,844 $408,754 $9,280,000 $9,280,000 $0 $94,694 $0 $0 $0 $0 $ 9,280,000 $17,819,319 23% H, CH New TOD 388 1/17/2020 4/14/2020 10/16/2020 11/16/2020 11/18/2022

7 Link at Sylmar (Sylmar II) 2018-2019 Round 2Sylmar II, LP; Meta Housing Corporation

12667 N SAN FERNANDO ROAD CA 91342

7 4% 56 45 23 10 1 0 0 $30,318,945 $ - $2,001,090 $28,317,855 $541,410 $10,900,000 $9,900,000 $1,000,000 $176,786 $17,857 $0 $0 $0 $ 10,900,000 $10,183,282 36% H, I, CH New non-TOD 300 1/17/2020 4/14/2020 10/16/2020 11/16/2020 11/18/2022

8 NoHo 5050 2018-2019 Round 3Decro Corporation; Daylight Community Development, LLC

5050 N BAKMAN AVE CA 91601

2 4% 40 28 16 7 1 4 0 $21,529,376 $ - $1,916,571 $19,612,805 $538,234 $3,833,200 $3,833,200 $0 $95,830 $0 $0 $0 $0 $ 3,833,200 $7,211,450 18% DV, F, CH New TOD 208 1/17/2020 4/14/2020 10/16/2020 11/16/2020 11/18/2022

9 Sherman Oaks Senior 2018-2019 Round 2 Mercy Housing California14536 W BURBANK BLVD VAN NUYS, CA 91411

4 4% 55 54 27 0 1 0 0 $29,409,086 $ - $2,710,696 $26,698,390 $534,711 $11,880,000 $11,880,000 $0 $216,000 $0 $0 $0 $0 $ 11,880,000 $9,802,973 40% HS, M, CH New non-TOD 283 4/17/2020 7/15/2020 1/15/2021 2/22/2021 2/22/2023

10 Sun King Apartments 2018-2019 Round 2 MANY MANSIONS12128 SHELDON ST Los Angeles, CA 91352

6 4% 26 25 13 0 1 0 0 $17,685,368 $ - $750,000 $16,935,368 $680,206 $5,500,000 $5,500,000 $0 $211,538 $0 $0 $0 $0 $ 5,500,000 $6,412,387 31% HF, CH New non-TOD 180 4/17/2020 7/15/2020 1/15/2021 2/22/2021 2/22/2023

11 VA Building 207 2018-2019 Round 3Thomas Safran & Associates Development, Inc.

11301 WILSHIRE BLVD #207 Los Angeles, CA 90025

11 4% 60 59 32 0 1 0 0 $33,353,105 $ 2,500,000 $760,000 $29,070,915 $538,849 $8,260,000 $8,820,000 $0 $147,000 $0 $0 $0 $0 $ 8,260,000 $13,123,727 26% HS, CH Rehab TOD 343 4/15/2020 1/15/2020 10/15/2020 11/15/2020 11/15/2022

12 West Terrace (fka Silver Star II) 2018-2019 Round 3 A Community of Friends 6576 S WEST BLVD CA 90043 8 4% 64 42 28 6 1 14 1 $34,757,507 $ - $2,550,073 $32,207,434 $543,086 $6,404,900 $5,880,000 $524,900 $91,875 $8,202 $0 $0 $0 $ 6,404,900 $11,977,039 18% HF, H, I, CH New TOD 341 4/17/2020 7/15/2020 1/15/2021 2/22/2021 2/22/2023

13 Funding Authorization forCadence (fka 11408 S. Central)

2018-2019 Round 2 LINC Housing Corporation11408 S CENTRAL AVE CA 90059

15 4% 64 46 32 0 1 17 0 $36,069,779 $ - $2,700,000 $33,369,779 $563,590 $10,112,000 $10,112,000 $0 $158,000 $0 $0 $0 $0 $ 10,112,000 $12,368,537 28% H, CH New non-TOD 354 8/15/2019 10/16/2019 4/6/2020 4/13/2020 12/10/2021

SubTOTAL 740 600 313 28 13 65 34 397,221,895 6,566,000 28,298,430 361,335,275 100,506,646$ 105,065,200$ 2,011,446$ -$ -$ -$ 100,506,646$ 155,832,195$ Average 57 46 24 2 1 5 3 30,555,530$ 505,077$ 2,176,802$ 27,795,021$ 7,731,280.46$ 8,081,938.46$ 154,726.62$ 141,980$ -$ -$ -$ -$ 7,731,280.46$ 11,987,092$

1 62nd Street PSH 2018-2019 Round 3 Restore Neighborhoods LA 62nd Street PSH 8 n/a 20 19 19 0 1 0 0 $3,950,493 $0 $2,000,000 $1,950,493 $ 197,525 $2,000,000 $2,000,000 $0 100,000$ -$ $0 $0 $0 $ 2,000,000 $0 51% CH, H, HD,M, D New TOC 21 N/A N/A TBD 2/1/2021 2/1/20222 South Figuerora PSH 2018-2019 Round 3 Restore Neighborhoods LA South Figuerora PSH 9 n/a 40 39 39 0 1 0 0 $7,900,986 $0 $2,000,000 $5,900,986 $ 197,525 $4,000,000 $4,000,000 $0 100,000$ -$ $0 $0 $0 $ 4,000,000 $0 51% CH, H, HD,M, D New AB 1763 63 N/A N/A TBD 4/1/2021 4/1/20223 North Westlake PSH 2018-2019 Round 3 Restore Neighborhoods LA North Westlake PSH 13 n/a 20 19 19 0 1 0 0 $3,950,493 $0 $2,000,000 $1,950,493 $ 197,525 $2,000,000 $2,000,000 $0 100,000$ -$ $0 $0 $0 $ 2,000,000 $0 51% CH, H, HD,M, D New TOC 21 N/A N/A TBD 12/1/2020 12/1/20214 RETHINK 4 PSH 2018-2019 Round 3 Restore Neighborhoods LA TBD TBD TBD 20 19 19 0 1 0 0 TBD $0 TBD TBD TBD $2,000,000 $2,000,000 $0 100,000$ -$ $0 $0 $0 $ 2,000,000 $0 TBD CH, H, HD,M, D New TOC TBD N/A N/A TBD TBD TBD5 Lagoon PSH 2018-2019 Round 3 Flyaway 728 N. Lagoon 15 n/a 35 34 34 0 1 0 0 $12,700,000 $0 $3,500,000 $9,200,000 $ 362,857 $3,400,000 $3,400,000 $0 97,143$ -$ $0 $0 $0 $ 3,400,000 $0 27% CH, H, HD,M, D New TBD 98 N/A N/A TBD 8/1/2020 8/1/20216 Flyaway PSH 2018-2019 Round 3 Flyaway 7601 S Figuerora TBD TBD 42 41 40 0 1 0 0 TBD $0 TBD TBD TBD $3,400,000 $3,400,000 $0 80,952$ -$ $0 $0 $0 $ 3,400,000 $0 TBD TBD New TBD TBD N/A N/A TBD TBD TBD7 Flyaway PSH 2018-2019 Round 3 Flyaway 7715-7725 San Pedro TBD TBD 41 40 40 0 1 0 0 TBD $0 TBD TBD TBD $5,400,000 $5,400,000 $0 131,707$ -$ $0 $0 $0 $ 5,400,000 $0 TBD TBD New TBD TBD N/A N/A TBD TBD TBD8 Flyaway PSH 2018-2019 Round 3 Flyaway TBD TBD TBD 41 40 40 0 1 0 0 TBD $0 TBD TBD TBD $3,400,000 $3,400,000 $0 82,927$ -$ $0 $0 $0 $ 3,400,000 $0 TBD TBD New TBD TBD N/A N/A TBD TBD TBD9 Flyaway PSH 2018-2019 Round 3 Flyaway TBD TBD TBD 41 40 40 0 1 0 0 TBD $0 TBD TBD TBD $3,900,000 $3,900,000 $0 95,122$ -$ $0 $0 $0 $ 3,900,000 $0 TBD TBD New TBD TBD N/A N/A TBD TBD TBD

10 Manzanita Court PSH 2018-2019 Round 3 Brilliant Corners West Wyandotte PSH 6 n/a 23 22 22 0 1 0 0 $9,426,208 $0 $2,300,000 $7,472,431 $ 409,835 $2,750,000 $2,750,000 $0 119,565$ -$ $0 $0 $0 $ 2,750,000 N/A 29% CH, H, HD,M, D New AB 2162 79 N/A N/A TBD 12/1/2020 12/1/2021

11 Brilliant Corners Adaptive Reuse PSH

2018-2019 Round 3 Brilliant Corners TBD TBD TBD 32 31 31 0 1 0 0 TBD $0 TBD TBD TBD $4,250,000 $4,250,000 $0 132,813$ -$ $0 $0 $0 $ 4,250,000 TBD TBD TBD New TBD TBD TBD TBD TBD TBD TBD

12 New Zones of Opportunity PSH (Family)

2018-2019 Round 3 Bridge Housing TBD TBD 4% 81 80 80 0 1 0 0 TBD $0 TBD TBD TBD $11,200,000 $11,200,000 $0 138,272$ -$ $0 $0 $0 $ 11,200,000 TBD TBD TBD New TBD TBD TBD TBD TBD TBD TBD

13 New Zones of Opportunity PSH (TAY)

2018-2019 Round 3 Bridge Housing TBD TBD 4% 61 60 60 0 1 0 0 TBD $0 TBD TBD TBD $8,500,000 $8,500,000 $0 139,344$ -$ $0 $0 $0 $ 8,500,000 TBD TBD TBD New TBD TBD TBD TBD TBD TBD TBD

14 Harvard Gardens PSH 2018-2019 Round 3 Daylight Harvard Gardens PSH 10 4% 47 46 46 0 1 0 0 $18,329,642 $0 $3,637,864 $14,691,178 $ 389,992 $9,693,333 $9,693,333 $0 206,241$ -$ $0 $0 $0 $ 9,693,333 $5,819,154 53% HS New TOC 156 TBD TBD TBD 2/1/2021 2/1/202215 Oatsie's Place 2018-2019 Round 3 Daylight 16015 West Sherman Way 6 4% 46 45 45 0 1 0 0 $16,868,105 $0 $2,491,516 $14,376,589 $ 366,698 $7,733,333 $7,733,333 $0 168,116$ -$ $0 $0 $0 $ 7,733,333 $5,769,757 46% O New TBD 152 TBD TBD TBD 12/1/2020 12/1/202116 Vanowen PSH 2018-2019 Round 3 Daylight Vanowen PSH 2 9% 49 48 48 0 1 0 0 $18,369,415 $0 $3,391,669 $14,977,746 $ 374,886 $4,900,000 $4,900,000 $0 100,000$ -$ $0 $0 $0 $ 4,900,000 $8,609,322 27% CH, H New TBD 159 TBD TBD TBD 11/1/2020 11/1/202117 Streamlining Solutions 2018-2019 Round 3 Mercy/Abode/LA Family TBD TBD 4% 60 59 59 0 1 0 0 TBD $0 TBD TBD TBD TBD TBD $0 TBD -$ $0 $0 $0 TBD TBD TBD TBD New TBD TBD TBD TBD TBD TBD TBD 18 Streamlining Solutions 2018-2019 Round 3 Mercy/Abode/LA Family TBD TBD 4% 60 59 59 0 1 0 0 TBD $0 TBD TBD TBD TBD TBD $0 TBD -$ $0 $0 $0 TBD TBD TBD TBD New TBD TBD TBD TBD TBD TBD TBD 19 Streamlining Solutions 2018-2019 Round 3 Mercy/Abode/LA Family TBD TBD 4% 60 59 59 0 1 0 0 TBD $0 TBD TBD TBD TBD TBD $0 TBD -$ $0 $0 $0 TBD TBD TBD TBD New TBD TBD TBD TBD TBD TBD TBD 20 Streamlining Solutions 2018-2019 Round 3 Mercy/Abode/LA Family TBD TBD 4% 60 59 59 0 1 0 0 TBD $0 TBD TBD TBD TBD TBD $0 TBD -$ $0 $0 $0 TBD TBD TBD TBD New TBD TBD TBD TBD TBD TBD TBD 21 Streamlining Solutions 2018-2019 Round 3 Mercy/Abode/LA Family TBD TBD 4% 60 59 59 0 1 0 0 TBD $0 TBD TBD TBD TBD TBD $0 TBD -$ $0 $0 $0 TBD TBD TBD TBD New TBD TBD TBD TBD TBD TBD TBD 22 Streamlining Solutions 2018-2019 Round 3 Mercy/Abode/LA Family TBD TBD 4% 60 59 59 0 1 0 0 TBD $0 TBD TBD TBD TBD TBD $0 TBD -$ $0 $0 $0 TBD TBD TBD TBD New TBD TBD TBD TBD TBD TBD TBD

SubTOTAL 999 977 976 0 22 0 0 91,495,342 0 21,321,049 70,519,916 78,526,666$ 78,526,666$ -$ -$ -$ -$ 78,526,666$ 20,198,233$ Average 45 44 44 0 1 0 0 4,158,879.18$ -$ 969,138.59$ 3,205,450.73$ 3,569,393.91$ 3,569,393.91$ -$ 78,605.27$ -$ -$ -$ -$ 3,569,393.91$ 918,101.50$

Total Units

HHH Funded

SH

HHH Funded SH

Chronic

Non-SH

Units

Mgr Units

Not HHH Funded SH Units

Not HHH Funded Non-SH

TDC Total HHH Loan

Commitment

1,739 1,577 1,289 28 35 65 34 488,717,237 179,033,312$

Notes: All figures are HHH relevant unless specifically noted otherwise, and are subject to change until loan closing.Bold dates denote actuals.Proposition HHH PSH Loan Program funds are available for homeless units (PSH) as well as low-income (affordable) units.

Legend for Populations ServedF = Non-homeless Families V = Non-homeless Veterans HV = Homeless Veterans M = Homeless Mental IllnessS = Non-homeless Seniors H = Homeless Individuals HS = Homeless Senior O = Other HomelessI = Non-homeless Individuals CH = Chronically Homeless Y = Homeless Youth IHA = Homeless individuals with HIV/AIDSD = Non-homeless disabled HF = Homeless Families HD = Homeless Disabled DV = Homeless survivors of domestic violence & sex trafficking

GRAND TOTAL

HHH funded Not HHH funded

Attachment B.Project Expenditure Plan for Fiscal Year 2020-2021

Proposition HHH Permanent Supportive Housing

Proposition HHH Housing Innovation Challenge

# Project Name Rd Developer Address CDLeverage

SourceTotal Units

PSH Units

PSH Chronic

Units

Non-PSH units

Mgr Units

PSH UnitsNon-PSH units

TDCPublicly

owned Land Cost

Land Cost (less publicly-owned land)

TDC Less Land Cost

TDC / UnitTDC (less

land)/ UnitTotal HHH Request

HHH PSH $ Subtotal

HHH Non PSH $ Subtotal

PSH $/ HHH Unit

Non PSH $ / HHH Unit

HOME Request

HOPWA Request

CDBG Request

TOTAL RequestTax Credit

EquityHHH % of TDC

Population

Served

Project Type

Location Type

Jobs Supported

Est. Date Applying to

CDLAC

CDLAC Allocation Meeting

Est. Construction Loan Closing

Est. Construction

Start Date

Est. Construction

End Date

1 Depot at Hyde Park Increase

1WORKS (Women Organizing Resources, Knowledge and Services)

6527 S Crenshaw Blvd

8 4% 43 33 17 9 1 0 0 29,042,990$ 440,463$ 1,984,537$ 20,831,685$ 540,853$ 484,458$ 8,160,000$ $7,260,000 $900,000 $168,837 $20,930 -$ -$ -$ 8,160,000$ $7,291,389 31% HF, H, F, CH

New TOD 221 7/1/2020 6/17/2020 4/5/2021 4/26/2021 11/25/2022

2 Adams Terrace 1 Abode Communities 4347 W Adams Blvd 10 4% 86 43 22 26 2 0 15 59,896,501$ 894,898$ 2,300,102$ 39,168,034$ 492,593$ 455,442$ 12,000,000$ $9,460,000 $2,540,000 $110,000 $29,535 -$ -$ -$ 12,000,000$ $14,696,435 28% H, I, CH New TOD 415 1/17/2020 4/14/2020 10/16/2020 11/16/2020 11/18/2022

3 McCadden Campus Senior Housing

1 Thomas Safran & Associates Devt

1118 N McCadden Pl 4 4% 98 25 13 0 1 0 72 50,639,484$ -$ 4,930,158$ 39,123,128$ 449,523$ 399,216$ 5,500,000$ $5,500,000 $0 $56,122 $0 -$ -$ 4,930,158$ 10,430,158$ $11,101,690 12% HS, CH New TOD 416 9/19/2018 11/14/2018 12/20/2018 2/13/2019 10/26/2020

4 PATH Villas Hollywood Increase

1 PATH Ventures5627 W Fernwood Ave

13 4% 60 59 30 0 1 0 0 41,337,445$ -$ 3,586,750$ 30,183,201$ 562,833$ 503,053$ 12,320,000$ $12,320,000 $0 $205,333 $0 -$ -$ -$ 12,320,000$ $11,753,923 35% H, I, CH New TOD 329 5/17/2019 7/17/2019 12/31/2020 1/30/2021 1/30/2023

5 Gramercy Place Apts 1 Hollywood Community Housing Corp

2375 W Washington Blvd

10 4% 64 31 16 31 2 0 0 42,793,953$ 2,329,139$ 198,831$ 33,787,607$ 567,431$ 527,931$ 9,920,000$ $6,820,000 $3,100,000 $106,563 $48,438 -$ -$ -$ 9,920,000$ $15,939,139 27% HS, CH New TOD 360 8/17/2018 10/17/2018 4/30/2019 5/16/2019 1/20/2021

6 Casa de Rosas Campus 1 WARD Economic Devt Corp 2600 S Hoover St 9 4% 37 36 18 0 1 0 0 19,825,000$ 3,936,000$ -$ 15,002,064$ 511,840$ 405,461$ 7,920,000$ $7,920,000 $0 $214,054 $0 -$ -$ -$ 7,920,000$ $4,747,232 42% HV, CH Rehab TOD 140 7/18/2018 9/18/2019 3/13/2019 5/2/2019 5/27/2020

7 Aria Apartments (fka Cambria Apts)

1 Affirmed Housing 1532 W Cambria St 1 4% 57 56 56 0 1 0 0 28,478,153$ -$ 3,600,000$ 22,787,793$ 462,944$ 399,786$ 12,000,000$ $12,000,000 $0 $210,526 $0 -$ -$ -$ 12,000,000$ $10,510,952 45% O, CH New TOD 252 7/18/2018 9/18/2019 12/5/2018 2/7/2019 10/30/2020

8 Missouri Place Apartments

1 Thomas Safran & Associates Devt

11950 W Missouri Ave

11 4% 74 44 22 19 1 0 10 44,602,996$ 5,700,000$ 250,000$ 27,671,721$ 454,348$ 373,942$ 11,520,000$ $9,680,000 $1,840,000 $130,811 $24,865 -$ -$ -$ 11,520,000$ $13,143,667 34% HF, F, CH New TOD 354 9/19/2018 11/14/2018 10/22/2019 11/4/2019 6/30/2021

9 Isla de Los Angeles 1 Clifford Beers Housing 283 W Imperial Hwy 8 4% 54 53 27 0 1 0 0 34,652,007$ 1,325,000$ -$ 20,436,570$ 402,992$ 378,455$ 11,660,000$ $11,660,000 $0 $215,926 $0 -$ -$ -$ 11,660,000$ $6,741,868 54% O, CH New TOD 217 5/15/2019 7/17/2019 3/19/2020 4/20/2020 4/20/2022

10 Firmin Court 1 Decro Corp 418 N Firmin St 1 4% 64 45 23 18 1 0 0 42,537,871$ -$ -$ 30,056,520$ 469,633$ 469,633$ 11,340,000$ $9,900,000 $1,800,000 $154,688 $28,125 -$ -$ -$ 11,340,000$ $10,690,559 38% H, F, I, CH New TOD 291 5/17/2019 7/17/2019 3/25/2020 4/13/2020 4/13/2022

11 Hartford Villa Apts 1 SRO Housing 445 S Hartford Ave 1 9% 101 67 75 0 1 33 0 44,859,535$ -$ 6,721,867$ 36,437,668$ 427,322$ 360,769$ 12,000,000$ $12,000,000 $0 $118,812 $0 2,211,535$ -$ -$ 14,211,535$ $22,500,000 28% HV, M, CH New TOD 388 2/28/2018 9/19/2018 12/7/2018 1/24/2019 7/27/2021

12 PATH Villas Montclair 1 PATH Ventures 4220 W Montclair St 10 4% 46 45 23 0 1 0 0 30,752,853$ -$ 3,910,250$ 22,092,349$ 565,274$ 480,268$ 9,900,000$ $9,900,000 $0 $215,217 $0 -$ -$ -$ 9,900,000$ $10,605,032 38% H, M, CH New TOD 235 3/15/2019 5/15/2019 12/26/2019 2/4/2020 8/13/2021

13Vermont Corridor Apartments (fka 433 Vermont Apts)

1 Western Community Housing / WCH Affordable XXIV, LLC

433 S Vermont Ave 10 9% 72 36 18 35 1 0 0 51,352,600$ 6,850,000$ -$ 42,039,129$ 679,016$ 583,877$ 7,200,000$ $6,480,000 $720,000 $90,000 $10,000 -$ -$ -$ 7,200,000$ $23,667,786 15% HS, CH New TOD 446 9/19/2018 11/14/2018 3/27/2019 7/2/2019 2/18/2021

14 Residences on Main 1 Coalition for Responsible Community Devt

6901 S Main St 9 4% 50 49 25 0 1 0 0 30,179,651$ 813,363$ 1,770,635$ 22,004,643$ 491,773$ 440,093$ 10,780,000$ $10,780,000 $0 $215,600 $0 -$ -$ -$ 10,780,000$ $8,124,115 44% HF, Y,CH New TOD 242 9/19/2018 11/14/2018 4/2/2019 4/30/2019 10/30/2020

15 Summit View Apts 1 LA Family Housing11681 W Foothill Blvd

7 4% 49 48 24 0 1 0 0 36,229,452$ 3,400,000$ 255,000$ 20,779,827$ 498,670$ 424,078$ 10,560,000$ $10,560,000 $0 $215,510 $0 -$ -$ -$ 10,560,000$ $8,893,528 43% HV, CH New NON-TOD 255 3/15/2019 5/15/2019 12/19/2019 1/22/2020 1/23/2022

16 West Third Apts Preservation

1 Figueroa Economical Housing Devt Corp

1900 W 3rd St 1 4% 137 136 68 0 1 0 0 47,541,696$ -$ 1,896,000$ 40,876,025$ 312,205$ 298,365$ 10,291,998$ $10,291,998 $0 $75,124 $0 -$ -$ -$ 10,291,998$ $11,713,853 22% HV, CH Rehab TOD 433 7/18/2018 9/18/2019 11/27/2018 3/2/2020 2/26/2021

17 Western Ave Apts 1 Figueroa Economical Housing Devt Corp

5501 S Western Ave 8 4% 33 32 16 0 1 0 0 13,097,284$ -$ 900,000$ 11,103,942$ 353,057$ 336,483$ 4,660,033$ $4,660,033 $0 $141,213 $0 -$ -$ -$ 4,660,033$ $3,130,411 36% HV, CH Rehab TOD 118 7/18/2018 9/18/2019 11/29/2018 5/2/2019 4/30/2020

18 Building 205 1 Figueroa Economical Housing Devt Corp

11301 Wilshire Blvd #205

11 4% 68 67 67 0 1 0 0 42,140,946$ 1,313,000$ -$ 36,681,432$ 567,081$ 547,484$ 12,000,000$ $11,622,000 $0 $170,912 $0 -$ -$ -$ 12,000,000$ $10,636,511 32% HV, CH Rehab NON-TOD 391 10/12/2018 12/12/2018 4/30/2020 5/29/2020 5/29/2022

19 Building 208 1 Figueroa Economical Housing Devt Corp

11301 Wilshire Blvd #208

5 4% 54 53 53 0 1 0 0 37,754,159$ 1,387,500$ -$ 33,967,602$ 654,724$ 629,030$ 11,660,000$ $11,660,000 $0 $215,926 $0 -$ -$ -$ 11,660,000$ $8,367,259 33% HV, CH Rehab NON-TOD 360 10/12/2018 12/12/2018 4/30/2020 5/29/2020 5/29/2022

20 Broadway Apts 2 Figueroa Economical Housing Devt Corp

301 W 49th St 9 4% 35 34 34 0 1 0 0 15,573,058$ -$ -$ -$ 281,184$ -$ 4,443,480$ $4,443,480 $0 $126,957 $0 -$ -$ -$ 4,443,480$ $2,781,984 29% HV, CH Rehab TOD 56 10/17/2018 12/12/2018 6/6/2019 3/2/2020 2/26/2021

21 Marcella Gardens (68th & Main St.)

2 Coalition for Responsible Community Devt

6714 S Main St 9 4% 60 59 30 0 1 0 0 32,447,373$ -$ -$ -$ 430,879$ -$ 12,000,000$ $12,000,000 $0 $200,000 $0 -$ -$ -$ 12,000,000$ $8,385,551 46% H, Y, HV, CH New TOD 243 1/17/2020 4/14/2020 10/16/2020 11/16/2020 11/18/2022

22 Metamorphosis on Foothill

2 Clifford Beers13574 W Foothill Blvd

7 4% 48 47 24 0 1 0 0 25,180,788$ -$ -$ -$ 494,288$ -$ 10,340,000$ $10,340,000 $0 $215,417 $0 -$ -$ -$ 10,340,000$ $8,622,726 44% H, HF, D, CH New non TOD 230 10/17/2018 12/12/2018 2/27/2019 4/4/2019 10/27/2020

23 Emerson Apartments (fka Melrose Apartments)

2 Affirmed Housing 4766 W Melrose Ave 13 4% 39 38 38 0 1 0 0 24,730,156$ -$ -$ -$ 530,624$ -$ 9,240,000$ $8,360,000 $0 $214,359 $0 -$ -$ -$ 9,240,000$ $7,183,664 40% CH, H, HF, H New TOD 206 3/15/2019 5/15/2019 11/5/2019 11/20/2019 6/18/2021

24 Rosa De Castilla Apts 2 East LA Community Corp4208 E Huntington Dr

14 9% 85 63 32 7 2 0 13 45,027,086$ -$ -$ -$ 518,318$ -$ 12,000,000$ $11,340,000 $660,000 $133,412 $7,765 -$ -$ -$ 12,000,000$ $19,890,830 27% HF, CH, HV, New non TOD 420 7/2/2018 11/14/2018 5/2/2019 6/3/2019 10/1/2020

TOTAL 1514 1199 771 145 27 33 110 870,673,037$ 28,389,363$ 32,304,130$ 545,030,940$ 239,415,511$ 226,957,511$ 11,560,000$ 2,211,535$ -$ 4,930,158$ 246,557,204$ 261,120,104$ 7018Average 63 50 32 6 1 1 5 36,278,043$ 1,182,890$ 1,346,005$ 22,709,623$ 488,308$ 354,076$ 9,975,646$ 9,456,563$ 1,548,571$ 163,388$ 22,808$ 2,211,535$ -$ 4,930,158$ 10,273,217$ 10,880,004$ 292

Notes: All figures are HHH relevant unless specifically noted otherwise, and are subject to change until loan closing.Bold dates denote actuals.Proposition HHH PSH Loan Program funds are available for homeless units (PSH) as well as low-income (affordable) units.

Legend for Populations ServedF = Non-homeless Families V = Non-homeless Veterans HV = Homeless Veterans M = Homeless Mental IllnessS = Non-homeless Seniors H = Homeless Individuals HS = Homeless Senior O = Other HomelessI = Non-homeless Individuals CH = Chronically Homeless Y = Homeless Youth IHA = Homeless individuals with HIV/AIDSD = Non-homeless disabled HF = Homeless Families HD = Homeless Disabled DV = Homeless survivors of domestic violence & sex trafficking

HHH funded Not HHH funded

Attachment C.Proposition HHH Permanent Supportive Housing Project Expenditure Plan for Fiscal Year 2018-2019 Amendment

STAFF REPORT As of: March 20, 2020

11010 Santa Monica Boulevard Los Angeles, CA 90025

New Construction Council District 5

PROJECT DESCRIPTION

11010 Santa Monica Boulevard (the Project) will be a new construction development that will provide 50 affordable studio apartments for seniors and senior veterans, and 1 two-bedroom manager’s unit. The Project was proposed in response to a Request for Proposals (RFP) issued by HCIDLA, seeking proposals for supportive housing on a City-owned parking lot. The RFP sought proposals for developments featuring high-quality design that could be produced more inexpensively and more quickly than the typical supportive housing development in the City of Los Angeles. The proposed development will employ modular, prefabricated units.

As proposed, the Project will feature a community room (available to residents and others in the community), gym, reading room, outdoor patio, and roof deck along with resident services offices. The proposal includes plans to replace all 24 existing public parking spaces, however, the level of replacement parking required has not yet been determined. The proposal received scored very well for its elegant design and its incorporation of the Department of City Planning’s three pillars of good design: pedestrian orientation, 360˚ design, and climate adaptive design.

Located near the West Los Angeles Veterans Affairs Medical Center, the Project’s location is ideal for seniors and senior veterans requiring affordable housing. Also nearby, are several community services and amenities, including the West Los Angeles Regional Branch Library.

PROJECT FINANCE SUMMARY

The RFP submission proposes using HHH, 4% tax credits, tax exempt bonds, and a permanent loan to finance the development of this project. The proposal pro forma does not project a financing gap, and includes funding for all 24 replacement parking spaces.

BORROWER AND PROPOSED OWNERSHIP STRUCTURE

The intended ownership structure will be a to-be-formed limited partnership consisting of a developer to be selected by City Council simultaneous to this funding commitment.

Attachment D. HHH PSH and Housing Innovation Challenge Projects Staff Reports

Staff Report: 11010 Santa Monica Blvd. Page 2 of 2

PROPOSED PERMANENT FUNDING SOURCES Source Amount HCID-HHH $7,000,000 Tax Credit Equity 7,347,518 Conventional Loan 5,344,514 HCIDLA – Land 4,066,000 GP Equity 100 Total $ 23,758,132 AFFORDABILITY STRUCTURE

Unit Type Percent Median Total Number of Units 0 Bedroom 30% 50 Mgr-2 Bedroom UNRSCTD 1 Total 51 FUNDING RECOMMENDATION A Proposition HHH funding commitment of up to $7,000,000 is recommended. HHH funds represent $137,255 per unit for 51 units. HHH funds represent 29% of the Total Development Cost (TDC). TDC per unit is $465,846. HHH funding is leveraged with 4% tax credit equity and a conventional bank loan. CONSTRUCTION TIMELINE Construction is proposed to start in May 2021, and anticipated to be completed by May 2023.

Prepared By: Los Angeles Housing and Community Investment Department


Amani Apartments

4200 W. Pico Boulevard Los Angeles, CA 90019


PROJECT DESCRIPTION The Amani Apartments (Amani) (the Project) is located at 4200 Pico Blvd in the Mid-City neighborhood of Los Angeles, and is planned as an affordable housing development for homeless seniors with 53 studio units, and 1, one-bedroom manager unit. Of the 53 studio units, 27 will be reserved for chronically homeless individuals. The Amani project will consist of a modern five story building designed by Abode Communities Architecture, with approximately 33,000 square feet (sq. ft.) of permanent supportive housing for formerly homeless individuals, and will include approximately 2,000 sq. ft. of commercial office space. As planned, the studio units will be approximately 400 sq. ft., and the one-bedroom manager’s unit will be approximately 700 sq. ft. All units will include kitchenettes, bathrooms, a sleeping area, small living and dining spaces and will be fully furnished prior to lease up. Project plans include a resident community room, laundry room and offices for the Amani Manager and supportive services staff. The project’s common areas will total approximately 2,000 square feet. Wakeland Housing and Development Corporation (Wakeland), or an entity wholly owned and controlled by Wakeland, will purchase the land prior to construction. Currently, there are no structures on the site. PROJECT FINANCE SUMMARY The borrower will secure a conventional permanent loan in the amount of $3.1 million and will utilize $22.1 in 9% tax credit equity to partially finance the construction of the project. BORROWER AND PROPOSED OWNERSHIP STRUCTURE Wakeland Housing and Development Corporation will form a Limited Partnership (LP) with an affiliated Limited Liability Corporation (LLC) entity, as the Managing General Partner. The Limited Partner investor has not yet been determined. Wakeland certifies that it has the special needs/homeless experience required by HCIDLA for feasible and viable development and operation of the Amani project. Ownership structure will consist of the following:

1. Wakeland Housing, Managing General Partner (0.01%) 2. Limited Partner, yet to be determined (99.99%)

Staff Report: Amani Apartments March 20, 2020 Page 2 of 2

PROPOSED PERMANENT FUNDING SOURCES Source Amount HCIDLA-HHH $5,400,000 HCIDLA-HHH (accrued/deferred interest) $208,200 LACDA NPLH $1,540,000 Wells Fargo $3,150,000 Limited Partner Equity $22,181,568 Total $32,479,768.00

AFFORDABILITY STRUCTURE Unit Type Percent Median Total Number of Units 0 Bedroom 30% 53 Mgr-1 Bedroom 0 1 Total 54 FUNDING RECOMMENDATION HCIDLA recommends a funding commitment of up to $5,400,000 for the Amani project. HHH funds represent $100,000 per unit for 54 units. HHH funds represent 17% of the Total Development Cost (TDC). TDC per unit is $601,477. HHH funding is leveraged with NPLH Funds, 9% tax credit equity, and a conventional bank loan. CONSTRUCTION TIMELINE Construction is proposed to start in April 2021, and anticipated to be completed by April 2023. Prepared by: Los Angeles Housing and Community Investment Department


Bell Creek Apartments 6940 N. Owensmouth Avenue

Los Angeles, CA 91303


PROJECT DESCRIPTION

Bell Creek Apartments (the Project), located at 6940 N. Owensmouth, will be a supportive housing development consisting of 79 mixed affordable units for homeless, chronically homeless individuals, and families and low income families, 1 manger’s unit, with 66 type 1-A podium parking spaces, 48 long-term bicycle stalls, and 24 short-term bicycle stalls on ground level. The site is currently composed of four contiguous parcels. Three of the parcels have three existing residential buildings that will be demolished; therefore, relocation benefits will be provided.

The project will consist of 80 residential units, comprised of 40 one-bedroom units, 19 two-bedroom units, 20 three-bedroom units and 1 two-bedroom manager’s unit. All residential units will include bathrooms and fully-equipped kitchens. Amenities include a community recreation room, fitness center, laundry facility, office spaces for case management/services, and property manager. Outdoor amenities include a roof top terrace, playground, and landscaped courtyards.


The ownership structure will be a Limited Partnership consisting of Western Community Housing, Inc., as Managing General Partner and 6940 Owensmouth, LLC as the Administrative General Partner. The future ownership structure will consist of the following:

1. Western Community Housing Affordable XLVI, LLC, as Managing General Partner (0.005%)

2. Owensmouth 6940, L.P., as Administrative General Partner 3. Limited Partner, yet to be determined (99.99%)

POPULATION SERVED

The population served by the project will be homeless and chronically homeless individuals, homeless families, and low-income families.

Staff Report: Bell Creek Apartments Round 3 HHH CFP 2018-19 Page 2 of 2

PROPOSED PERMANENT FUNDING SOURCES

Source Amount HCIDLA - HHH PSH $6,226,546 4% TCAC Equity $17,280,303 Conventional/Bank Loan $14,929,362 County - AHTF $5,000,000 No Place Like Home $6,290,000 Total $ 49,726,211

AFFORDABILITY STRUCTURE

Unit Type Percent Median Total Number of Units 1 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 3 Bedroom 3 Bedroom

30% 60% 30% 60% 30% 80%

37 3 2 17 2 18

Mgr-2 Bedroom 0% 1 Total 80

FUNDING RECOMMENDATION

An HCIDLA funding commitment of up to $6,226,546 is recommended. HHH funds represent $77,852 per unit for 80 units. HHH funds represent 13% of the Total Development Cost (TDC). The TDC per unit is $621,578. HHH funding is leveraged with 4% tax credit equity, a conventional bank loan, Los Angeles County–AHTF, and Los Angeles County -NPLH funds.

CONSTRUCTION TIMELINE

Construction is currently estimated to start in November 2020, and anticipated to be completed by November 2022.

Prepared by: Los Angeles Housing + Community Investment Department


Chesterfield (fka 4719 Normandie)

4719 S. Normandie Ave, Los Angeles, CA 90037


PROJECT DESCRIPTION The Chesterfield project (fka 4719 Normandie) is located in South Los Angeles and will be a supportive housing development consisting of 43 units. The five story structure will include 42 studios and 1 one-bedroom manager’s unit. All units will be supportive housing units that will include kitchenettes, bathrooms, small living and dining spaces, a sleeping area, and will be fully furnished. The project will include a community room, supportive services offices, manager’s office, laundry and approximately two thousand square feet of commercial office space. The project will be thirty-three thousand square feet total in size. BORROWER AND PROPOSED OWNERSHIP STRUCTURE The developer, Wakeland Housing and Development Corporation will form a Limited Partnership with an affiliated LLC entity, as the Managing General Partner and the Limited Partner is yet to be formed. The ownership structure will consist of the following:

1. Wakeland Housing and Development Corporation or affiliated LLC entity as Managing General Partner (0.01%)

2. Limited Partner, who has yet to be determined (99.99%)

Staff Report: Chesterfield (fka 4719 Normandie) Page 2 of 2

PROPOSED PERMANENT FUNDING SOURCES Source Amount HCIDLA - HHH PSH $8,990,000 4% TCAC Equity $12,460,940 Conventional Loan $2,100,000 LA County CDC NPLH $2,100,000 Deferred Dev. Fee $380,000 HHH Accrued/Deferred Interest $208,500 Total $ 26,239,440

AFFORDABILITY STRUCTURE Unit Type Percent Median Total Number of Units 0 Bedroom 30% 42 Mgr-1 Bedroom 0% 1 Total 43 FUNDING RECOMMENDATION An HCIDLA funding commitment of up to $8,990,000 is recommended. HHH funds will represent $209,070 per unit for 43 units. HHH funds represent 34% of the Total Development Cost (TDC). The TDC per unit is $610,220. The HHH funding is leveraged with tax credit equity, conventional bank loan, LA County No Place Like Home funds, and HHH Accrued/Deferred Interest. CONSTRUCTION TIMELINE Construction is currently estimated to start in November 2020, and anticipated to be completed by November 2022. Prepared By: Los Angeles Housing + Community Investment Department


Hope on Broadway 5138 S. Broadway



PROJECT DESCRIPTION

Hope on Broadway (project), located at 5138 S. Broadway, will be a supportive housing development consisting of 48 affordable units for homeless and chronically homeless individuals, 1 manager’s unit, and bicycle storage. The project will be built as a Type IIB structure with a concrete podium and three residential floors above utilizing a steel modular system. The site is currently improved with a commercial structure occupied by one tenant, which will be demolished; therefore, relocation benefits will be provided.

The project will consist of 49 residential units, comprised of 48 studio units and 1 one-bedroom manager’s unit. All residential units will include full ADA adaptable bathrooms with grab bars and kitchens equipped with a stove, refrigerator, and microwave oven. All units will be furnished with a bed, night stand and lamp, small kitchen table with two chairs, and a ceiling fan. Additional amenities will include secure access, laundry facility, community room, a mail room, office space for case management/services, conference rooms, a recreation room, and a lobby. Outdoor amenities will be an open recreational space, roof deck on the fourth floor, and a courtyard on the second floor.


The Hope on Broadway Limited Partnership will consist of a Community Housing Program Inc. (CHAPA), affiliate as Managing General Partner, Aedis Broadway AGP, LLC as Administrative General Partner with R4 Capital as Limited Partner. Ownership structure will consist of the following:

1. CHAPA affiliate as Managing General Partner (0.0051%) 2. Aedis Broadway AGP, LLC as Administrative General Partner (.0049%) 3. R4 Capital as Limited Partner (99.99%)

Staff Report: Hope on Broadway Page 2 of 2


Source Amount HCIDLA - HHH $6,720,000 4% TCAC Equity $7,663,152 Conventional/Bank Loan $2,080,000 Deferred Developer Fee $698 California State Credits $5,373,486 Total $ 21,837,336


Unit Type Percent Median Total Number of Units 0 Bedroom 0 Bedroom

30% 50%

6 42



An HCIDLA funding commitment of up to $6,720,000 is recommended. HHH funds represent $137,143 per unit for 49 units. HHH funds represent 31% of the Total Development Cost (TDC). The TDC per unit is $445,660. HHH funding is leveraged with 4% tax credit equity, and a conventional loan, CA State Credits, and deferred developer fees.



Prepared By: Los Angeles Housing + Community Investment Department


Hope on Hyde Park 6501 S. Crenshaw Boulevard,



PROJECT DESCRIPTION

Hope on Hyde Park (the Project), located at 6501 S. Crenshaw Boulevard, will be a mixed-use supportive housing development consisting of 97 affordable units and 1 manager’s unit with a 2,500 square foot retail space. The project will be built as a Type IIB structure with a concrete podium with four residential floors above utilizing a steel modular system. The site currently consists of three commercial structures that will be demolished; relocation benefits will be provided to the church/tenant that is occupying the three structures.

The project will consist of 98 residential units, comprised of 74 studio units, 23 one-bedroom units, and 1 one-bedroom manager’s unit that will be located on the ground floor. All residential units will be on floors two through five and will include full bathrooms and kitchens equipped with a stove, refrigerator, and microwave oven. All units will be furnished with a bed, night stand, lamp, and small kitchen table with two chairs. The project amenities will include secured access, laundry facility, community room, and roof deck. The ground floor will have four private offices for dedicated case management, conference rooms, a recreation room, and lobby. Open and recreational space will be provided primarily on the second floor courtyard.


The ownership structure will be Hope on Hyde Park, LP (to be formed), which consists of CHAPA (or its affiliate) as Managing General Partner, Aedis Hyde Park AGP as Administrative General Partner, and R4 Capital as the Limited Partner. Ownership structure will consist of the following:

1. CHAPA or affiliate as Managing General Partner (0.0051%) 2. Aedis Hyde Park AGP, LLC as Administrative General Partner (.0049%) 3. R4 Capital as Limited Partner (99.99%)

Staff Report: Hope on Hyde Park Page 2 of 2


Source Amount HCIDLA - HHH $9,280,000 4% TCAC Equity $17,819,319 Conventional/Bank Loan $12,910,000 Deferred Dev. Fee $48,525 Total $ 40,057,844


Unit Type Percent Median Total Number of Units 0 Bedroom 1 Bedroom

50% 50%

74 23



An HCIDLA funding commitment of up to $9,280,000 is recommended. HHH funds represent $94,694 per unit for 98 units. HHH funds represent 23% of the Total Development Cost (TDC). The TDC per unit is $408,754. HHH funding is leveraged with 4% tax credit equity, deferred developer fee, and a conventional bank loan.





Link at Sylmar (fka Sylmar II)

12667 N. San Fernando Road, Los Angeles, CA 91342


PROJECT DESCRIPTION Link at Sylmar (fka Sylmar II) project is a vacant site located in a mixed commercial and residential area of Sylmar, to the west of San Fernando Road, between Polk and Nurmi Streets. The project lot size is approximately 0.49 acres with 47,782 square feet of building area. Upon completion, the project will consist of 56 new affordable units for low-income and special needs residents, of which 53 will be studios, 2 will be one-bedroom units, and 1 one-bedroom unit will be reserved as manager’s unit. Forty-five of the units will be reserved for homeless individuals, 23 of which will be reserved for chronically homeless individuals, and the remaining 10 units will be reserved for low-income individuals. All of the units will have kitchens and bathrooms, and the homeless units will be provided with furnishings. The ground floor of the project will include a community recreation room, a technology room, offices for the property manager and supportive services staff, 27 vehicle parking spaces, and a secure room to store bicycles. Additionally, the project will provide an open courtyard on the second floor exclusively for residents. The proposed design embraces the existing commercial and residential design of buildings along the San Fernando corridor. BORROWER AND PROPOSED OWNERSHIP STRUCTURE The newly formed single-purpose entity, Sylmar II, L.P., is a joint partnership combining the efforts of Meta Housing Corporation and Western Community Housing, Incorporated. The LP will develop, operate and maintain ownership of the project. WCH Affordable XLIII, LLC (Western Community Housing, the Sole Member and Manager) with Sylmar II, LLC (Meta AGP Investments, LLC, the Sole Member and Manager) as Managing General Partner, with .05% ownership each. Sylmar II, LLC is a single-purpose entity and the Administration General Partner. Meta Housing Corporation is the Sole Member and Manager of Meta AGP Investments, LLC, and will also be the Developer of the proposed project. The project ownership structure consists of the following:

1. WCH Affordable XLIII, LLC (0.005%) and Sylmar II, LLC as Managing General Partner (0.005% each)

2. Sylmar II as Limited Partner (99.99%)

Staff Report: Link at Sylmar Page 2 of 2

PROPOSED PERMANENT FUNDING SOURCES Source Amount HCID-HHH $10,900,000 Tax Credit Equity $10,183,282 Conventional Loan $1,870,918 HCID IIG Grant $1,381,968 Deferred Dev. Fee $42,777 LA County CDC NPLH $5,940,000 Total $ 30,318,945

AFFORDABILITY STRUCTURE Unit Type Percent Median Total Number of Units 0 Bedroom 30% 45 0 Bedroom 50% 8 1 Bedroom 50% 2 Mgr-1 Bedroom 0% 1 Total 56 FUNDING RECOMMENDATION HCIDLA recommends a funding commitment of up to $10,900,000 for the Link at Sylmar project. HHH funds represent $194,643 per unit, 31% of the total development cost (TDC). The TDC per unit is $633,619. HHH funding is leveraged with 4% tax credit equity, a deferred developer fee, LA County No Place Like Home funding, HCD IIG grant, and a conventional bank loan. CONSTRUCTION TIMELINE Construction is estimated to start in November 2020, and to be completed by November 2022. Prepared By: Los Angeles Housing + Community Investment Department


NoHo 5050

5050 – 5050 ½ N. Bakman Ave., Los Angeles, CA 91601


PROJECT DESCRIPTION

The NoHo 5050 (project), located at 5050 N. Bakman Avenue, will be a supportive housing development consisting of 40 affordable housing units for survivors of domestic violence and qualifying low income families, one manager’s unit, five parking stalls, one disabled-accessible parking stall, one Electric Vehicle (EV) parking stall, 36 long-term bicycle parking storages, and three short-term parking storages at grade level. The site currently consists of two three-unit apartment buildings that will be demolished, which are currently occupied by six households; therefore, relocation benefits will be provided.

The project is to be constructed as a new five-story building: four stories of Type V-A construction over one story of Type I construction at grade. The project will consist of 40 residential units, comprised of 4 studio units, 28 one-bedroom units, seven two-bedroom units, and one two-bedroom manager’s unit. Amenities include a laundry facility, learning center, community room, supportive services space, shared community kitchen, community garden for residents, and landscaped open space at the ground and roof levels.


The ownership structure will be a limited partnership that will consist of Daylight Community Development, LLC, as Administrative General Partner, Decro NoHo 5050, LLC, as Managing General Partner, and NoHo 5050 PSH, LLC, as its Co-Managing General Partner. The Limited Partnership is to-be-determined and will include an investor at construction loan close. The future ownership structure will consist of the following:

1. Decro NoHo 5050, LLC, as Co-Managing General Partner (0.0034%) 2. NoHo 5050 PSH, LLC, as Co-Managing General Partner (0.0033%) 3. Daylight Community Development, LLC, as Administrative General Partner (.0033%) 4. Limited Partner, who has yet to be determined (99.99%)

Staff Report: NoHo 5050 Page 2 of 2

PROPOSED PERMANENT FUNDING SOURCES Source Amount HCID-HHH $3,833,200 Tax Credit Equity $7,211,450 Conventional Loan $4,323,735 State LIHTC Equity $1,790,890 Deferred Dev. Fee $100 LA County CDC NPLH $4,370,000 Total $ 21,529,375

AFFORDABILITY STRUCTURE Unit Type Percent Median Total Number of Units 0 Bedroom 50% 4 1 Bedroom 50% 28 2 Bedroom 60% 7 2 Bedroom UNRSCTD 1 Total 40 FUNDING RECOMMENDATION

An HCIDLA funding commitment of up to $3,833,200 is recommended. HHH funds represent $95,830 per unit and 18% of the total development cost. The total development cost per unit is $538,234. HHH funding is leveraged with 4% tax credit equity, a conventional bank loan and County of Los Angeles -NPLH Funds. CONSTRUCTION TIMELINE




Sherman Oaks Senior

14536 W. Burbank Blvd, Los Angeles, CA 91411


PROJECT DESCRIPTION Sherman Oaks Senior (project), is located in a mixed commercial and residential area, central to the northern section of Sherman Oaks, in the San Fernando Valley. The project site is improved with a single family structure and 3 additional housing units. The housing units would typically be subject to the City’s Rent Stabilization Ordinance (RSO), however, because the seller has previously used the property for short-term vacation rental, and the housing units are vacant, the RSO relocation requirements do not apply. The property’s existing structures will all be demolished prior to constructing commencing. As planned, the project will be a 4-story structure consisting of 55 new affordable units and subterranean parking for 20 vehicles. Fifty-four units will be studios for chronically homeless seniors and one unit will be reserved as a one-bedroom manager’s unit. All of the units will have kitchenettes. Project plans include a 1,066 square foot community space on the ground floor, resident open spaces at the rear and on the rooftop area of the project, 3 laundry rooms (located on the second, third and fourth floors), and offices for the property manager and supportive services staff. BORROWER AND PROPOSED OWNERSHIP STRUCTURE Mercy Housing Calwest will serve as the Managing General Partner of the to-be-formed Limited Partnership (LP) that will own and operate the project. Mercy Housing California is the single member of the non-profit organization Mercy Housing Calwest. The equity investor will be determined at a later date. The future ownership structure will consist of the following:

1. Mercy Housing Calwest, Managing General Partner (0.01%) 2. Limited Partner, yet to be determined (99.99%)

PROPOSED PERMANENT FUNDING SOURCES Source Amount HCID-HHH $11,880,000 Accrued Deferred Interest $44,545 Tax Credit Equity $9,802,973 CDLAC Performance Deposit $79,935 Conventional Loan $679,000 GP Equity $100 FHLB – AHP $540,000 Deferred Dev. Fee $662,533 LA County CDC NPLH $5,720,000 Total $ 29,409,086

Staff Report: Sherman Oaks Senior Page 2 of 2

AFFORDABILITY STRUCTURE Unit Type Percent Median Total Number of Units 0 Bedroom 30% 54 Mgr-1 Bedroom MKT 1 Total 55 FUNDING RECOMMENDATION HCIDLA recommends a funding commitment of up to $11,880,000 for the project. HHH funds will represent $216,000 per unit, 40% of the total development cost (TDC). The TDC per unit is $534,711. HHH funding is leveraged with 4% tax credit equity, an Affordable Housing Program (AHP) loan, County Affordable Housing Trust Fund and Mental Health Housing Program (MHHP) funds and GP Equity. CONSTRUCTION TIMELINE Construction is currently estimated to start in February 2021, and anticipated to be completed by February 2023. Prepared By: Los Angeles Housing + Community Investment Department


Sun King Apartments

12128 Sheldon St., Los Angeles, CA 91352


PROJECT DESCRIPTION Sun King Apartments (project), located in the Sun Valley neighborhood, will be a supportive housing development consisting of 25 units and a two-bedroom manager’s unit. The unit mix will consist of 12 one-bedroom units, 10 two-bedroom units, and 3 three-bedroom units all designated for homeless families. The site is walking distance to Sun Valley High School and was considered in the design. The development will consist of one building of approximately 35,685 square feet and will range from three to four stories, connected by walkways and interspersed with a rooftop community terrace/garden. The building will be woven through a series of interior and exterior common spaces. On the ground floor, the ample front and side yard setbacks will allow for informal gathering spaces and safe play spaces for both the community and the residents. Moving up the broad pedestrian stairs, a colorful playground will be situated behind the gated entry which highlights the importance of families living within these units. At this level supportive offices will be centrally located along with laundry services which allow ease of accessibility for these amenities and services. Many Mansions will be the supportive services provider. The community center will be located at the corner of the lot which shares a rooftop space with terraces for community gathering and gardening. Resident amenities will include: on site laundry, 2 supportive service office spaces, open space with barbecues and communal tables 27 parking spaces and 29 bike parking spaces. BORROWER AND PROPOSED OWNERSHIP STRUCTURE The applicant and owner is Sun King LP, a California Limited Partnership. Sun King LP will consist of a Limited Partner and a General Partner. Sun King LLC is the General Partner, of which, Many Mansions, a California nonprofit corporation will be the sole/manager member and developer. Many Mansions will be the sole lead developer. There will be no development partner. The ownership structure will consist of the following:

1. Sun King LLC, as Managing General Partner (0.01%) 2. Sun King LP, as Limited Partner (99.99%)

Staff Report: Sun King Apartments Page 2 of 2

PROPOSED PERMANENT FUNDING SOURCES Source Amount HCID-HHH $5,500,000 HHH Accrued Deferred Interest $50,083 Tax Credit Equity $6,412,387 Conventional Loan $3,279,000 GP Equity $100 SHMP $2,443,798 Total $ 17,685,368

AFFORDABILITY STRUCTURE Unit Type Percent Median Total Number of Units 1 Bedroom 50% 12 2 Bedroom 50% 10 3 Bedroom 50% 3 Mgr-1 Bedroom 0% 1 Total 26 FUNDING RECOMMENDATION A HCIDLA funding commitment of up to $5,500,000 is recommended. HHH funds will represent $211,538 per unit and 31% of the total development cost. The total development cost per unit is $680,206. The HHH funding is leveraged with 4% tax credit equity, conventional bank loan and County of Los Angeles funds. CONSTRUCTION TIMELINE Construction is currently estimated to start in February 2021, and anticipated to be completed by February 2023. Prepared By: Los Angeles Housing and Community Investment Department


West LA VA Campus Building 207 11301 Wilshire Blvd. #207



PROJECT DESCRIPTION

The West LA VA Campus Building 207 (project), located at 11301 Wilshire Blvd. #207, will be a three-story supportive housing development consisting of the renovation of the historic West Los Angeles VA Building into 59 affordable units for homeless senior veterans (aged 62+), and a one-bedroom manager’s unit. The land and Building 207 are currently owned by the government of the United States of America, and is not located in a Los Angeles City Council district. The project site is currently vacant, so no demolition or residential tenant relocation is necessary prior to renovation. Building 207 is situated on the West Los Angeles VA Medical Campus, which makes up approximately 350 acres. The Campus site and some of the buildings are registered as National Historic Landmarks. Building 207 is included within the campuses’ historic neighborhood.

The project will consist of 60 residential units, comprised of 53 studios, six one-bedroom units, and one one-bedroom manager's unit. All residential units will include air conditioning and heating, a small kitchenette with a refrigerator and hot plate/burner, window coverings, and cable TV and internet hook-ups. Additional amenities consist of 1,816 square feet (sf) of resident community space with TV lounge, computer lab, fitness room, laundry facilities, and onsite management and case worker offices. One elevator will service residents and provide access to all floors, and each floor will contain multiple lounge seating areas. The outdoor amenities include a courtyard with barbecue, dining and fitness areas.


Thomas Safran & Associates Development, Inc. (TSA), a for-profit corporation, is the principal developer and will form the VA Building 207 L.P. partnership. The partnership will later be structured to include the Housing Corporation of America, a not-for-profit organization, as the Managing General Partner (MGP), the VA Building 207 LLC as the Administrative General Partner (AGP), and will select and admit a limited partner investor at construction loan closing. Veterans Affairs and the L.P. partnership will sign a 75-year Enhanced Use Lease (EUL) upon receipt of all enforceable funding commitments and prior to closing. TSA is also a partner member of the West LA Veterans Collective LLC. The future ownership structure will consist of the following:

1. Housing Corporation of America, as Managing General Partner (0.051%) 2. VA Building 207 LLC, as Administrative General Partner (0.049%) 3. Limited Partner, who has yet to be determined (99.99%)

Staff Report: VA Building 207 Senior Apartments Page 2 of 2

PROPOSED PERMANENT FUNDING SOURCES Source Amount HCID-HHH $8,260,000 Tax Credit Equity $13,123,727 Conventional Loan $5,900,000 Deferred Dev. Fee $319,378 LA County CDC NPLH $5,750,000 Total $ 33,353,105

AFFORDABILITY STRUCTURE Unit Type Percent Median Total Number of Units 0 Bedroom 30% 53 1 Bedroom 30% 6 Mgr-2 Bedroom 0% 1 Total 60


An HCIDLA funding commitment of up to $8,260,000 is recommended. HHH funds represent $137,667 per unit and 25% of the total development cost. The total development cost per unit is $555,885. HHH funding is leveraged with 4% tax credit equity and a conventional bank loan.





West Terrace (Silver Star II) 6576-6604 S. West Boulevard



PROJECT DESCRIPTION

Silver Star II (project), located at 6576-6604 S. West Boulevard, will be a supportive housing development for homeless individuals and families, as well as low income individuals, consisting of 63 affordable units and one manager’s unit. There will be no tenant parking provided, per the Transit-Oriented Communities Ordinance (TOC), since the site is located in TOC tier 3. However, there will be bicycle parking racks. The site currently consists of two commercial structures that will be demolished, one of which is being used as a residence; therefore, relocation benefits will be provided to the resident that lives onsite.

The project will consist of 64 residential units, comprised of 14 studio units, 29 one-bedroom units, 20 two-bedroom units, and one three-bedroom manager’s unit. All residential units will include bathrooms and kitchens equipped with a stove and a refrigerator. 56 residential units will be furnished with a full size bed, night stand, chest of drawers, and a dining table with chairs. The project amenities will include air conditioning, a community room with a shared kitchen, television lounge, computer lab, and laundry facilities on each floor. Offices for supportive service staff and private consultation rooms will be provided. Outdoor amenities include a shared rooftop patio, ground-level community area with seating, and children’s play area landscaped with drought-tolerant plants.


A Community of Friends is the developer and will form a Limited Partnership. The Limited Partnership will consist of Supportive Housing LLC as Managing General Partner, with A Community of Friends as the Initial Limited Partner. Ownership structure will consist of the following:

1. Supportive Housing LLC as Managing General Partner (0.01%) 2. A Community of Friends Initial Limited Partner (99.99%)

PROPOSED PERMANENT FUNDING SOURCES Source Amount HCID-HHH $6,404,900 Accrued Deferred Interest – HHH $26,561 Tax Credit Equity $11,977,039 Conventional Loan $7,140,000 GP Equity $85,100 Deferred Dev. Fee $1,363,907 LA County CDC NPLH $7,760,000 Total $ 34,757,507

Staff Report: Silver Star II Page 2 of 2

AFFORDABILITY STRUCTURE Unit Type Percent Median Total Number of Units 0 Bedroom 30% 7 0 Bedroom 50% 7 1 Bedroom 30% 29 2 Bedroom 30% 20 Mgr-3 Bedroom MKT 1 Total 64


An HCIDLA funding commitment of up to $6,404,900 is recommended. HHH funds represent $100,077 per unit and 18% of the total development cost. The total development cost per unit is $543,086. HHH funding is leveraged with 4% tax credit equity, a conventional bank loan, GP Equity, and County of Los Angeles NPLH funds.


Construction is currently estimated to start in February 2021, and anticipated to be completed by February 2023.


city administrative officer of los angelescao.lacity.org/homeless/prophhhcoc-20200409c.pdf · 2020....

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